Elshcon Nigeria joins league of companies to successfully migrate from GAAP to IFRS

Elshcon Nigeria Limited (ENL), an integrated indigenous group of companies operating in the energy and maritime sectors with focus on value, client satisfaction and retention recently joined the league of very few Nigerian companies to successfully migrate from the Generally Accepted Accounting Practices (GAAP) to the more advanced International Financial Reporting Standards (IFRS). With a […]

IBM, CLS, banks test blockchain app store

Foreign exchange settlement providers CLS, IBM and nine financial institutions, including Barclays Plc. and Citigroup Inc., are testing a platform to access blockchain-based applications, according to Reuters. The companies said on Monday that the platform, LedgerConnect, will offer applications and services provided by different vendors in areas such as customer compliance checks, sanctions screening and […]

Nigerian treasury bills oversubscribed 400% as investors bet on government, increased yield

Nigeria’s central bank Wednesday saw its fortnightly treasury bills auction oversubscribed 400 percent as total subscription outstripped the N140.9 billion it originally planned to raise by N418.1 billion. Actual subscription stood at N559 billion. However, the Central Bank of Nigeria could only allot bills worth N215.88 billion at the auction, which is N75 billion more […]